Korea’s LG International Corporation has made a new gas discovery in Oman’s offshore Bukha gas-condensate field. The new reserves are located near Block 8 and Block 17 by the Musandam Peninsula, Reuters reported.
The Bukha field is operated by Novus Oman, a subsidiary of Australia's Novus Petroleum, with LG controlling a 25 percent stake in Block 8. The Korean firm plans to release details regarding the new field’s recoverable reserves in the next two weeks.
LG became an equity partner in the Bukha Oil Field in 1998 where the entire volume of its share of produced crude is shipped to Korea. LG is currently pursuing exploration projects in other regions in the Middle East including an LNG scheme in Qatar. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
